Berkeley Energia Share Discussion Threads

[quepassa] 08/8/2018 08:40

the bolsa de madrid is showing that bky closed at a stratospheric Euro 3.27 yesterday.

opening price in London this morning is around 42pence.

anyone buying in Madrid is paying an additional 600% over the London price.


ALL IMO. DYOR.
QP

[langostino] 07/8/2018 10:55

hxxps://cincodias.elpais.com/cincodias/2018/08/06/mercados/1533579585_084290.html

[quepassa] 07/8/2018 10:16

sadly, i personally think this share pricing chasm between London and Madrid will all end in tears sooner rather than later and i don't know if it will be good for Berkeley.

one the one hand, some may say and pronounce that this demonstrates great support for the mine by the Iberian investment communities.

on the other hand, others may say that this will inevitably all end in tears when investors assimilate that they have been buying shares at up to six times or more the price in London.

if the Madrid price does crash back to London levels as i personally fear it must and there is a subsequent furore and outcry, one can but wonder to oneself whether this will be beneficial or otherwise for the two important outstanding permits still required by the mine.

personally, seeing London shares at 42p and Madrid shares at around Euro 3 (approx. £2.70) is astonishing. Something somewhere is likely to give in my opinion .

I may be wrong but I do not necessarily think this will be a positive outcome.

still no response from some of the the usual and more vocal participants on this bulletin board as to the why's or wherefore's of the astonishing price differential between London and Madrid.


ALL IMO. DYOR.
QP

[langostino] 07/8/2018 09:37

Trading is building up, with the pattern being that all trades go through at the closing auction. Yesterday 86,000 at nearly 3€. Today's morning auction opens at 3.27€. With no guidance from the company the share is acting like a Ponzi scheme and when the price inevitably drops back to below 0.50€ much reputational damage will have been done. I am surprised no Spanish equivalent of 'the company knows of no reason why ......' notice has been issued. This will go down as a scam.

[quepassa] 06/8/2018 09:05

Great question.

I haven't had the opportunity to read the Madrid listing prospectus ( available on the BKY website) to see the hoops you would have to jump through (if it can be done) to transfer London listed shares to Madrid listed shares

But yes, I am pretty certain they are exactly the same class of ordinary stock.


If you find out a way, please let us know.


The other point is that my lengthy personal experience of international shares is that this massive pricing differential is not sustainable in the longer-term in my opinion.

I don't know whether a mechanism exists to short the Spanish shares but if I had the time or inclination, that is what I would be personally also be researching when they are a jaw-dropping 6x the London price.

ALL IMO. DYOR.
QP

[cbeadle] 06/8/2018 08:55

Are they the same shares? Would it be possible to buy in London and sell in Madrid?

[quepassa] 06/8/2018 08:27

Yahoo Finance are this morning showing the price of Berkeley Energia in Spain at Euro2.71.

Ticker : BKY.MC

An online UK broker is this morning showing AN OFFER (subject to market) price for BKY.MC at Euro 2.96p this morning.


When this same class of ordinary share can be had at 42p in London, it seems unfathomable to me how and why they are why they are six times more expensive in Madrid.

The official Bolsa de Madrid shows a Friday closing price of Euro 2.71.

Can anybody explain please?


I am left with the impression that the Spanish investors will not be happy when they find out they are paying some 600% more for BKY shares than they would in London.


Astonishing that such a price differential can exist. But perhaps also deeply worrying in my opinion.



ALL IMO. DYOR.
QP

[pockstones] 01/8/2018 22:11

Hmm asked about this you need an enterprising Spanish broker manana you need to open an account have you tried doing that recently and then you wait the shares are pari passu but as yet you cannot arb it apparently

[quepassa] 01/8/2018 07:33

No reply from herlat in response to post 2174.


Serious opinions would be welcome from other posters about this apparent, unusual and gaping pricing differential for the same class of ordinary share on the two neighbouring exchanges of London and Madrid.


ALL IMO. DYOR.
QP

[pj 1] 30/7/2018 22:27

What benefit is a dual listing if they have no need of further funding requirements? Seems a total waste of time and effort imo

[herlat1] 30/7/2018 20:25

Still going up Lango.139,000 through and closed at €1.08.

[langostino] 30/7/2018 16:48

Higher Spanish volume today. 118,023 traded up 10% at 0.99€

[quepassa] 30/7/2018 07:14

READ:

Permitting update

With the Mining Licence, Environmental Licence, Prior Plant Authorisation and the Authorisation of Exceptional Land Use already granted, the next two major approvals are the Urbanism Licence by the municipal authority and the Construction Authorization by the Ministry of Ecological Transition for the treatment plant as a radioactive facility.

The Company is currently seeking an express resolution from the local municipality on the award of the Urbanism Licence. As the municipality is currently without a general secretary, who normally approves this kind of licence, the Urbanism Licence has been forwarded to the Diputación de Salamanca (Diputación) for their review and comments.

Subsequent to the end of the quarter, the Diputación issued a notice to the municipality recommending that the Urbanism Licence should not be awarded until two outstanding items regarding the licence are resolved, which the Company will respond to immediately.

The timing of the award of the Urbanism Licence continues to remain uncertain, is outside of the Company's control, and is unlikely to be received imminently. As a result, the construction and commissioning phases of the Salamanca mine are expected to commence late in 2018 and 2019 respectively, as previously advised, subject to the award of the Urbanism Licence and all other relevant permits and approvals.




ALL IMO. DYOR.
QP

[langostino] 27/7/2018 18:32

Since that historic day 19,000 shares have been traded for a total of 13,000€. Still 0.90€

[langostino] 24/7/2018 22:45

It would be amusing to have the company explanation for the roaring success of the Spanish listing. It can only be a matter of time before the authorities realise they have been Sacha Baron Cohen'd. More than double the UK price now @ 0.90€. I want some!

[langostino] 19/7/2018 15:10

On no trade so far today, Spain's only listed mining company, or more accurately only listed company with an unpermitted mining concession, remains at yesterday's closing price 0.72€ as one of Spain's most successful stock exchange launch ever. You would think some staff or the company broker would chip in for a few.


edit: Finally a buyer! 3000 at 0.77€. Up another 7% just before the close. Records are being broken.

[rvsy38] 18/7/2018 20:40

langostino

It looks like the average price was 53.8 eurocents ( not euros 53.8).

[langostino] 18/7/2018 19:37

Closing price of 0.72€ on volume of 8250 trading at average of 0.5382€ for a total of 4,440€
Has the world gone mad?





edit:
@rvsy38 - I stand corrected

[cbeadle] 18/7/2018 18:40

Will this mean a big jump tomorrow in London?

[herlat1] 18/7/2018 18:26

BKY lists st 50% premium on Spanish exchange!!! Shares closed at 64 pence 72 Euro cents on small volume.

[langostino] 10/7/2018 11:10

Min 15.10 'There has been mining in the Iberian peninsular for 4000 years and there has never been a problem'

Completely unhinged interview full of misstatements, including the above. Every adult Spaniard remembers the the 1998 Aznalcollar mining disaster.

[greedfear] 05/7/2018 14:20

Strange. Well maybe it will go north when US/Canada quoted uranium plays open in the green.

[greedfear] 05/7/2018 08:07

83c close that’s 46p. LSE: 42-43p.